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The Cash Rewards card provides 3% cash back in the category of your choice every month, out of six options, while the Discover it has rotating cash back categories that change throughout the year. Each card offers an introductory 0% APR for a relatively long period, and neither one has an annual fee.

The first is good for the kinds of purchases most of us typically make pretty often, while the second will be better for different kinds of purchases as the year goes on. Read on to learn if one of them might be a good card for you.

10% point bonus when redeeming into a Bank of America checking or savings account

Discover it

You’ll get:

5% cash back in categories that rotate throughout the year (see calendar below)

1% cash back on all other purchases

Double the cash back you earn after one year

The 5% cash back calendar for the Discover it for 2019 is:

Quarter

5% Cash Back Category

January – March

Grocery Stores

April – June

Gas Stations, Uber, Lyft

July – September

Restaurants, PayPal

October – December

Amazon.com, Target, Walmart.com

You can redeem your points as a statement credit, which is the typical way, or you can use them to pay for purchases directly through Amazon.

The Verdict

These cards have very different reward structures: would you rather get the set 3% and 2% cash back on gas and groceries, or would you rather get 5% back (10% after it’s doubled) on different types of purchases throughout the year?

You’ll have to study the rewards they offer and your own spending habits: which card would provide you with the most discounts?

Travel

Auto Rental Insurance

Flight Accident Insurance

You and your family are automatically covered on airline flights, up to $500,000.

The Verdict

Each of these cards offers a nice set of additional benefits, but the Discover it clearly wins in this category. The shopping and travel protections could really come in handy in certain situations, and you won’t get those with the Bank of America card.

Here’s a side-by-side comparison of the benefits offered by each card:

Bank of America Cash Rewards

Discover it

Account Management:

Account Alerts

Mobile Banking

Text Banking

Security:

Fraud Protection

Overdraft Protection

ShopSafe® Online Security

Account Management:

Personalize Your Card

Pay Up Until Midnight

Temporarily Freeze Your Account

Card Replacement

Spend Analyzer Tool

Security:

$0 Fraud Liability Guarantee

Shopping:

Purchase Protection

Price Protection

Extended Warranty Protection

Return Guarantee

Cash at Checkout

Travel:

Flight Accident Insurance

Auto Rental Collision Damage Waiver

The Costs & Fees

Card

Intro APR for Purchases and Balance Transfers

Regular Purchase APR

Regular Balance Transfer APR

Cash Advance APR

Foreign Transaction Fee

Bank of America Cash Rewards

0% for 12 billing cycles

16.24%–26.24% Variable

16.24%–26.24% Variable

19.24%–27.24% Variable

3%

Discover it

0% for 14 months

14.24%–25.24% Variable

14.24%–25.24% Variable

27.24% Variable

None

Card

Penalty APR

Late Fee

Returned Payment Fee

Bank of America Cash Rewards

Up to 29.99% Variable

Up to $39

Up to $28

Discover it

None

$0 the first time; up to $37 after that

Up to $37

The Verdict

As you can see, these cards have almost identical costs and fees, including the length of the introductory APR period.

The only real differences here are the fact that Discover will not charge for the first late payment, and that Discover will not apply a penalty APR for bad behavior.

Of these, only the last is a very important feature. The Cash Rewards card may apply the high penalty APR if you make a late payment, and this can last indefinitely. The Discover card can be more comfortable to carry for this reason, as it will never raise your APR.

The Bottom Line

Consider the rewards and benefits you’ll get with each card, because the interest rates and fees are about the same. Think about your personal shopping habits: would it be better for you to earn 3% back on gas and 2% back on groceries all year round, or would it be better to get 5% cash back (10% after it’s doubled) in the four Discover it categories?

Don’t forget, it’s not a bad idea to have multiple credit cards. This would let you earn 5% back in the Discover it categories whenever they’re available, and 3% on gas and 2% on groceries with the Bank of America card at other times.

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